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For effective strategic partner recruitment, the author recommends an eight-step plan, which includes identifying your target market, developing partner selection criteria, and developing an alliance plan with a selected partner.
After years of bumps and bruises acquired in partnering his small firm with large ones, the entrepreneur shares his lessons learned along the way. He outlines a five-step partner consideration process, which includes researching potential partners for proper fit and using your small size to your advantage.
When getting ready to engage with a strategic partner, entrepreneurs should enter into a written agreement when working with these partners to ensure, among other items, the proper assignment of invention terms and various representations and warranties.
In selecting a strategic partner for your company, do your homework first. With United Stationers as a partner, Paula Jagemann was able to grow revenues $0 to $18 million within eighteen months, deliver top customer service, and generate a high percentage of repeat customers.
The entrepreneur recounts how his firm went from being one of 50 tactical suppliers for a large firm to joining its exclusive club of strategic partners. The key: first understand these large firms' challenges and deliver solutions that would transform their businesses.
Richard Caruso considers success less a matter of financial accomplishment than of meaningful personal contribution. He's managed to do both.
Jeff Smith's trip to Honduras has evolved into a model that encourages aspiring entrepreneurs and helps struggling communities in the process. Smith received the Kauffman Community Award in honor of his accomplishments at a special presentation at the 2006 EO Chicago University.
Bradmer Pharmaceuticals, an American biotech company, chose to use the Toronto Venture Exchange's Capital Pool Company Program to raise cash in the public markets. The author shares his experience making the decision to list in the CPC program and his lessons learned.
London's Alternative Investment Market (AIM) is a credible alternative for U.S. companies looking for a market listing. As with any approach to IPO, U.S. companies should research AIM's advantages and disadvantages for listing compared with U.S. stock markets.
Entrepreneurs looking for seed capital should consider Toronto TSX Venture Exchange's Capital Pool Company (CPC) program, which allows companies to go public by merging with a CPC.
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